Tuesday, March 11, 2008
Platinum - position sold and loss taken
With the South African power shortage resolved (at least for the time being) and the price of the metal moving sharply downwards, I have decided to take the loss and sell the position I recently opened. The loss was about 8% of my original investment. Not the result that I hoped for but better to take the loss and move on than to risk a greater loss in a very volatile market. In one respect, taking the loss represents a positive development - historically I have sat on losing positions for far too long.